Agri Business

HC issues notice to CAG on financial irregularities at NAFED

PTI New Delhi | Updated on March 18, 2011 Published on March 18, 2011

The Delhi High Court (HC) today issued a notice to the CAG in a case relating to alleged financial irregularities to the tune of Rs 900 crore in the functioning of the National Agricultural Marketing Federation of India (NAFED).

“Issue a notice to Comptroller and Auditor General so that the court is apprised as to whether the accounts of NAFED from 2001 on wards have been audited or not,” a division bench of Chief Justice, Mr Dipak Misra and Justice, Mr Sanjiv Khanna said.

The court, which was hearing a PIL filed by Mr Vikas Jain, fixed the matter on May 25 for further hearing.

Mr Sugriva Dubey, counsel for Mr Jain, said NAFED had diverted around Rs 3,700 crore, meant for farmers, to its other businesses.

“As per their own estimation, NAFED has to recover Rs 1600 crore from persons who were given loans by it,” Mr Dubey said.

Earlier, the Supreme Court had set aside the High Court order directing a CBI probe into the alleged financial irregularities by NAFED officials in various activities including procurement of mustard seeds.

The high court had directed the investigating agency to register a case against erring NAFED officials.

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Published on March 18, 2011
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